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, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not act, interest rates would rise, and checks to social security beneficiaries would stop. and he said even thinking about the u.s. not paying its bills is irresponsible and, "absurd". darren gersh reports. >> reporter: in his first news conference of the new year the president gave a harsh lecture to republicans about the need to raise the deb
the president? he has said he is not even going to negotiate over the debt ceiling, it simply needs to be raised by congress. caller: if you already owed money and the president wants use to pay, you have to pay. i don't understand where the issue is. if you owe money, you have to repay that. this is a debt that is owed. it makes no sense to me. host: that is the argument the president made as well yesterday. now an independent from arkansas, heath. caller: i don't think we should raise the debt ceiling. we should have across-the-board cuts. we spend too much money. people don't deserve a free food, phones, medical care. somebody has to pay for everything. they say i need money for this and that. the funny thing is the people in the state ultimately owe the money. we are the guarantors. we are the ones that'll all the money. we will have to stop spending. host: you agree with sequestration, something that could happen in two months, the automatic spending cuts across the board? caller: have you ever gone to the bank and they told you no? host: so you agree with it? caller: it's going to be hard,
to hold the debt ceiling hostage, social security is negative cash flow. therefore, that means you could face a situation where the social security checks don't go out on time. the last time we faced that, it was 1983. and that was the only reason we got reforms. that would be a disaster. believe me if we allowed that to happen. >> i agree. i think the idea of prioritizing accounts after the interest on debt is insane. but, you know, boehner doesn't want to give obama a free lunch on the debt ceiling. they did that a year ago, they still haven't passed the se yestercuts. what i'm saying, why not at least launch a compromise? obama has compromised before in the past. heck, he's even voted against the debt ceiling in the past. >> well, we clearly need a compromise. we need to reduce spending, we need to impose tough statutory budget controls. need a real credit card, that's constitutional limit. we're the only country on earth that has a debt ceiling limit. so let's get real and try to do something that's more -- that's more appropriate and more effective than we have had in the past. ulti
to take it but congress needs to send him a debt ceiling increase. remember the debt sealing acording to the treasury department is due to run out to laps and we would approach a default position sometime in the middle of february, just next month. there is not a lot of time. now republicans have said and i asked the president about this you know, historically the debt ceiling because it oftentimes difficult to get votes in congress to pass a debt ceiling, has often been accompanied by fiscal or deficit reduction measures. back in the '80s, the '90s and even in president's presidency himself he has signed four laws raising debt ceiling. three were tied to some sort of fiscal management, legislation itself. but the president now says i'm tired of negotiating all those things, raised the debt ceiling and then i will get on with other conversations with you about dealing with the sequester, the across-the-board spending cuts and other budget related issues. but not until you take care of the debt ceiling and get that off the table. that was the president's principal message today and he
needs an ally. gerri: president obama raising the debt ceiling, thing that we are not a nation of deadbeats. here is what some of your posting on my facebook page. christina said yes, we are a nation of deadbeats and people are racking up more debt than they can afford to pay back. and others agree. too many are willing to sit back and let others support them. 21% said no. be sure to log onto gerriwillis.com for a long one question every weekday. and philip from georgia says obama fails to user consent of the governed. reminding us of the perils that we face in the greatness of our country. ken says the real endangered species of are the citizens of the united states. as a result, taxpayers pay for security and other expenses for former living president. totaling $4 million per year. now, most of us probably would not begrudge our commanders in chief that privilege. but as usual, goes too far.
conference of the new year the president gave a harsh lecture to republicans about the need to raise the debt ceiling and he once again said there was no way he'd negotiate with congress about something it should do anyway. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> reporter: republicans called the president hypocritical for saying he will not negotiate over the debt limit while blasting republicans for refusing to negotiate. and they fired back that the debate over the debt ceiling was the perfect time to consider legislation to cut spending. at the same time, only a handful of republicans have actually said they'd let the united states default on its bills. >> the president claims this, but republicans have always raised the debt ceiling. we've never seen the debt limit fail to be raised. all they have said is we want to apply the same criteria that the president himself applied when he wa
the point that we are on an unsustainable path. >> reporter: portman acknowledges the need to raise the debt ceiling, but he supports the context of getting a handle on the spenning. >> shepard: this is disaster relief for victims of super storm sand gee right. we have had plenty of lawmakers saying we need to get a handle on government spending, but not when people are waiting for major disaster relief money. a key new jersey democrat is saying people from new york, new jersey and connecticut pay their fair share. three state, 16% of the taxes. you ask the question: who suffered because of super storm sandy? certainly, our neighbors in new york and new jersey and connecticut suffered the most. but all americans will suffer if this economic engine is not rebuilt. >> reporter: a number of lawmakers have made the point, it is all about the northeast. but tomorrow, it could be a quake in california. it could be tornados in the midwest or a hurricane in florida. so they're suggesting you may want to be careful taking a hard line on disaster relief money, shep. >> shepard: mike emanuel, thank yo
if congress does not raise the debt ceiling. president barack obama said congress needs to pay its bills but republicans want any bills paid to be tied to spending cuts. >> they have two choices, they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. >>> and the gop is prepared for a fight saying quote, the consequences of failing to increase the debt ceiling are real, but so too are allowing our spending problem to go unresolved. >>> convenience stores will be busy today. people want to hit the new jackpot drawing, an estimated $62 million. on friday, somebody in orange veil matched all five mumps minus the mug did he -- five numbers minute news the meganumber giving them a $250,000 pay day. >>> it is almost every wear and as a -- everywhere and as a matter of fact looking at highway 4 traffic is slowing down from bay point to concord. traffic is mostly slow and the only good news is we have not had any major crashes but we have had our share of slow traffic on this stretch. traffic is backed up for a 15 to 20 minu
obama tells congress we're not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not
problem we need to deal with, martha, the misuse of the term default that emerged in the last debt ceiling crisis in august of 2011 when used on both sides of the aisle, when we reach the point the united states didn't have anymore borrowing authority that automatically meant default. it doesn't. that was a false definition then. it is a false definition now. we have enough money to operate essential components of this government that we can go on for a very long time. this isn't a crisis that hits a deadline that turns it into default. furthermore the economy of the united states, if we continue on this trillion dollar plus a year increase in our national debt does eventually hit a place of insolvency. that is what i fear. that is what most conservatives fear, martha. martha: but the president is basically saying to you, and the rest of the republicans in the house, that he is going to raise the debt limit. that the debt limit is going up. there won't be any negotiations over spending cuts that might offset that increase. there is going to be no negotiation. so what will you do? >> first
the president did likely to win this one. he'll say what he needs to do before the debt ceiling comes up for a vote. >> clearly a lot of confusion about that. cuba's new law easing travel restrictions began today pechl are taking advantage of it. >> they stood in long lines outside travel agencies and the u.s. interest section.g1u in havana. animalla lifts do not expect a mass exodus but they have questions in recent weeks. >> bee jirngs china facing an air quality emergency. look at the pictures. 62q calling pollution there hazardous saying this is the worst it's been in china. residents saygjhr there is a burning smell in the air smrks highways are closed and flights, cancelled. pollution blamed on the rapid inr industrial growth. and a rise in car ownership. just to give you an idea of how bad it is, the air pollution indmechl beijing is at 755. now, anything over a scale of 300 is considered an emergency. by comparison the scale in the united states doesn't go over 500. >> royal baby news, duke and duchess's baby expected in ju. a spokesman for the palace says her condition is contin
of the aisle a blank check. any discussion of raising a debt ceiling must also include an examination of serious reforms needed to indictment and discretionary spending. when we look at this, on january 2, 2013, president obama stated that we cannot continue to cut our way to prosperity. well, mr. president, on the contrary. we cannot tax and spend our way to prosperity either. i think tonight we're starting what i hope will become a regular occurrence. as we look at it, it's what i believe we have to do. and i believe it's about telling our story. and telling why conservative principles mat around how conservative principles, when we explain how we can get debt off their backs, spending under control, then it's freedom for their kids to have a better future. so they can go to college, so they can buy that or start that new business, to employ other people. i believe america's greatest gift was found in the free -- founding the free enterprise system and that's what we can encourage by getting our own fiscal house in order here tonight. this is a time for us to come together. and i'm
. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it is absurd. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. >> house republicans continued to threaten to use the debt ceiling as a bargaining chip. house republican conference chairwoman kathy rogers told "political" i think it is possible we would shut down the government to make sure that president obama understands that we're serious. well, i guess tha
. thank you. >>> as we near the debt ceiling, what does washington need to do to get our nation's finances back on track? joining us now from new york is republican senator rob portman. a member of the senate finance committee, and budget committee. rob, it's good to see you. >> thanks for having me on again, my friend. >> you're welcome. you saw the -- the press conference yesterday, i guess? >> i did. i was surprised. >> tell me why. >> because the president's ignoring the big issue. i mean, he is misleading folks about what's going on here. he's saying we ought to pay our ibms. of course we ought to pay our bills. that misses the point. the point is what are the bills going forward going to be? i mean look we're $130,000 now per family in debt, record levels as you guys have talked about already this morning. if we don't deal with this crushing debt we will not be able to get the kind of economic recovery we all hope for. it's generational theft for future generations. the president says let's extend it and give me a blank check. the point was made in the press confidence, which i thoug
mitch mcconnell continued to link the debt ceiling increase to spending. in a statement he said the president and his allies need to get serious about spending and the debt limit debate is the perfect time for it. house speaker john boehner also ignored his obligation to pay the nation's bills and also complained about spending. the american people do not support raising the debt ceiling without reducing government spending at the same time. they speak so confident, don't they? it's almost as if they forgot all about the spending cuts the president already gave them over a year ago. well, let's try to help them figure it out a little bit with a little visual and audio assistance. >> over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago, i signed into law more than $600 billion into new revenue, by making sure the wealthiest americans begin to pay their fair share. when you add the money that will save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two year
it in the context of the debt ceiling. >> do you believe that the fed could prevent future asset uploads? -- doubles -- bubbles? what tools do have to do that? >> it is difficult to anticipate. we can do some things. first of all, we can try to strengthen our financial system. by increasing the amount of capital and liquidity the banks hold. by improving supervision of those bank. by making sure that every important financial institution is supervised by somebody. there were some important ones during the crisis that had no effective supervision. you make the system stronger. if a bubble or some problem emerges, the system will be better able to meet -- be more resilient. youth and try to identify bubbles. there has been a lot of research on that. we have created a council called the financial stability oversight council. it is made up of 10 regulators and chaired by the secretary of the treasury. one of whose responsibilities is to monitor the financial system, as the fed also does, and identify problems that emerge. you are not going to identify every possible problem, but you can do your best. yo
that the debt ceiling raising will give them the leverage that they need to get what they want when it comes to spending cuts. the president hopes though that he can by delegitimizing this idea of having the debt ceiling as a debate, have them have no leverage going into the deficit-cutting discussion or at least a lot less leverage. >> bill: the other big topic, the only other topic actually raised at the news conference yesterday other than whether or not you elect a party, president likes to have a party. was the issue of guns where the president was not specific because he hasn't seen -- or wasn't ready to list all of the recommendations that may have come out of the biden task force. but the president did express and repeat his resolve to do something about this issue of gun violence. no doubt about that, was there? >> no. while he put off getting into the details a little bit, he was pretty specific in what he was looking for. the assault weapons ban. and the prohibition on high-capacity magazines. those are two things that we're expecting will be part of the proposal that the presiden
. >> well, good luck with tha >>> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and water not a dead beat nation. >> sounds simple, doesn't it? but like so many other crises and standoffs from the past two years, raising the nation's debt ceiling is a zero sum props. somebody wins only if somebody else loses. we're speaking of of course politically here, not financially. economically it's hard to find any winners if the treasury can't close the budget gap. runs about $100 million every month. my next guest worries about it a lot. signor partner and managing director of the boston consulting group and author and columnist. so this becomes tricky for people tound, but essentially the debt ceiling, is it the kind of tool that anybody should be used in order to force people to be more austere in the way they spend in the future? >> well, it's a way to do it, but it's a very dangerous way to do it because we start playing with everybody in our economy eye lives. so if we hit the debt ceiling and we don't have a bill that changes
to address. but they do need to address that. the way to do it is not for threatening default for the debt ceiling. >> david, thank you for joining us. david riley joining us there from fitch in london. >>> a little less than three hours, what the meeting might mean for the facebook stock. we have a buy rating on facebook and price target of 32. welcome back. >> thank you. >> sounds like you think between phone and some kind of new engine, probability is probably on the engine side, right? >> that's what i'm thinking. although as you know, the media's been speculating quite hard that it's probably a facebook type phone or operating system. i just think that mark zuckerburg has been pretty clear that search is pretty big for them. i think it makes a lot more sense for them to go after that business. >> what do you think it would look like, how would it work, and what can it do to their share of mobile ads in this country? is it likely to take anything away from what google has already put together? >> the way i'm envisioning this is they would make search much more relevant and much more ap
could reach its lmit in mid february. "raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel reponded by saying, "the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it." traders will get their first opportunity to react to comments at the market close yesterday by federal reserve chairman ben bernanke. among the highlights, the fed chair says, the federal government is not out of ammunition, the fed's bond-buying program is not likely to lead to higher inflation, and the fed sees positive signs in the economy. bernanke made the comments during an appearance at the university of michigan. nike
nothing and there are also no meetings even planned regarding the debt ceiling and the inevitable issue that is are faced by those who need to make the decisions for us. >> yeah. we have got this triple deadline coming up. and nobody -- everybody says they don't want to do it at the last minute the way we did with the fiscal cliff but nobody seems to be talking about it yet. you don't have negotiations started. granted we are in a bit of a holding pattern with the inauguration coming up and maybe things start to happen after that but nobody seems to be jumping in proactively for a solution to these issues that are coming up and that's because they're tough decisions. they're hard. and nobody has something that is universally palatable ready to off offer. >> with that said, will we see a separation of spending cuts the republicans say they want to desperately and separate it from the debt ceiling? as the president said, you can't run out on a meal you have eaten. this is not new debt. this is bills we have acquired. the government and this country must be obligated to do the same. >> wel
of the public to entertain part of this now about same as take the debt ceiling of the table for the next four years of bitter debate entitlement reform package. what do you need to see for young colleagues on the democratic side to say a right to engage in the conversations that the other side is insisting on with entitlement. >> first of all, we have to take the debt ceiling off the table for a considerable time. secondly, regarding entitlement reform, let's take medicare. there have been two changes in terms of medicare and its future. number one is that the rate of health care growth has been diminished in the rate of medicare cost increase. but it's also been diminished. that's the first consequence of the first events of the last three years. secondly, we have health care reform, which i think has accelerated to two munition and help your cost increase. what i think we need to do in terms of medicare is for both parties in both houses and the white house to sit down and have a serious discussion about how we continue to get ahold of medicare and other health care costs. we really need to
, is for congress to do what it is supposed to do and needs to do and authorize an increase in the debt ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt ceiling of a practical purpose? could it be eliminated without much consequence? >> does what have? >> the debt ceiling. >> it does not really have. it has symbolic value i guess, but no other country, i believe, maybe one or two other, but no other countries in the world have this particular institution . to so everyone understands what is, the congress appropriates $100, tells the government to spend $100 on whenever and then it raises $80 in revenue through its tax code. now, the arithmetic here sort of says, you have to borrow $20. shephard -- the congress has to give a third rule
are not a dead beat nation. >> in a statement john fwhier says the consequences of failing to increase the debt ceiling are real so, too, are the consequences of allowing our spending problem to go unresolved. republican senator mike lee of ue ah taw says the government needs put into place structural spending reform because simple spending cuts will no longer do the job. we are going to face another credit downgrade i fear because we will face it again without think being the way paushiwashi spends money. >> he is willing to work with republicans to reign in spending. he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something representative barber says he still supports the second mained
, the president rejected urgings by some democrats that he raised the debt ceiling on his own authority. republicans were quick to answer the chief executive's criticism. senate minority leader mitch mcconnell said in a statement the president and his allies need to get serious about spending and the debt limit debate is the perfect time for it. and speaker of the house john boehner said the consequences of failing to increase the debt ceiling are real but so too are the consequences of allowing our spending problem to go unresolved. the spending and debt issues took most of the president's attention today, but he also turned to the issue of gun violence. after the shootings at an elementary school in newtown connecticut, he appointed vice president biden to come up with recommendations for action. the vice president met with lawmakers today and with groups on both sides of the issue last week. plans to submit proposals by tomorrow. president obama would not discuss specifics today. instead he said this. >> i'm confident that there are some steps that we can take that don't require legi
need something with big numbers in order to -- [inaudible] more or less it's probably a smaller debt ceiling increase. and they also need to decide what to do about two other fiscal cliffs that are looming, the $85 billion in sequester cuts that had been put off for two months for the fiscal cliff deal and also the continuing resolution, government funding runs out march 27th. and if a bill's not passed, the government will shut down. now, some thought that republicans would be more willing to use that weapon to try to force cuts because a government shutdown is several orders of latitude less serious than a debt ceiling default. but, you know, behind the scenes appropriators have been working out their differences, and they could act quickly if leadership decided they didn't want to use that weapon to sort of pass the bill. >> l and finally, eric wasson, you report that the white house has sold paul ryan, the house budget chairman, that its budget will be late, missing the deadline. why? >> guest: that's right. already we're supposed to be starting the 2014 spending cycle, and the b
. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops, or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear material wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go haywire. interest rates would spike for anybody who borrows money -- every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. it wo
illustrate why we are going to have the big fights over the next couple of months to raise the debt ceiling and two-thirds of the republican caucuses voted for this. they want to send a message that they really, really needed it, that they want to cut spending for every doll they put out there, even on disaster relief, which historically has not been required to have an offset. >> and definitely has ruffled feathers in the last congress. all of our viewers i'm sure will rememb how new jersey governor chris christie didn't hold back in showing how angry he was at congress, the house, and specifically speaker boehner when the vote was delayed last time. listen to him. this is on january 2nd. >> new jersey deserves better than the due police tea we saw displayed last night. america deserves better than just another example of a government that has forgotten who is the to serve and why. 66 days and counting. shame on you. shame on congress. >> when you listen to that and when you listen to the house floor and sound bites before , s what you're saying why speaker boehner did what he did in the v
conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the speaker. what is your main problem with him? >> i have no personal problems. i keep hearing that. he himself said i carrying no grudges. we've talked several times. the point is to let him know with le stand up to leadership and hold him account annual. i think that's important to know. that really is on both sides of the aisle. if you go back there were people that challenged the leadership, too. i think that's a good thing. you have new members of congress willing to stand up and saying let's rethink this. let's put america first, not necessarily party politics. i fired the first volley that you would make boehner's life a little more h
needs an ally. playing chicken with the debt. today, president obama said again, not going to negotiate with republicans about raising the debt ceiling. >> if the republicans in congress have made a decision that they want to shut down the government in order to get their way, then they have a vote in the house of representatives to do that. >> the problem, that's what they say they're going to do. great to see you birthday. david, the president himself saying, i acknowledge it, a government shut-down is a possibility. cathy mcmorris rogers of washington state told politico, i think it's possible we would shut down the government. so here we are, we're getting to a problem. treasury secretary tim geithner said mid-february/march is as far as he can go. who blinks first? >> this is like one of the situations in the monkey cage at the zoo where the monkeys bang their chests and look as powerful as possible. the president is escalating this situation. no 14th amendment option. do it my way or we plunge the public credit of the united states into bankruptcy. and the republicans are respondi
deadlines. you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii coming off the biggest majority. we intend to build on that.
congress should raise the debt ceiling. that was the message, the federal reserve chairman delivered -- delivered at the university of michigan. he said congress needs to act quickly. they want to avoid a credit rating change and that could affect the economy. >>> the cold weather definitely having an impact on the central valley which grows about 8% of the country's fruits and vegetables. one family farm is in newcastle, california. that's about off 80 on the way to tahoe. farming is a tricky business. now, this cold weather is actually good news for their crop of mandarins but only to a point. >> whatever doesn't kill them makes them sweeter. so if you can get the mandarins as close to frozen as you can but not frozen, the trees push sugar into the fruit and it increases the quality of the fruit. >> analysts say orange and lemons are most vulnerable. that means higher prices. strawberries, avocados, affected as well. for avocado, one farmer says if the trees get damaged production is down for the whole year. in the next hour of "mornings on 2," steve mentioned arizona being particu
cuts. ahead of the debt ceiling debate alan simpson will join me. we'll get his take on that and a lot more. stay with us. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. and now you're protected. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. . >>> welcome back. okay. some painful news for drug-maker johnson & johnson. cvs says it will not carry its tylenol products in its stores after years of disruption. pfizer is the news of breakup speculation. if you're sho
with the debt ceiling. >> we didn't get to it before then. melissa: great discussion. next on "money", a stunning number of americans are using their 401(k)s to pay for every day expenses. a top financial planner said you couldn't make a worse decision. he is here to explain. we also asked for some other options if you're in this situation. >>> plus, demand for gas is falling to lows not seen in nearly a decade. many are giving credit to stiff fuel efficiency mandates. i'm not sure i'm buying that. that is coming up though. do you ever have too much money? ♪ . suddenly, she does something unexpected and you see the woman you fell in love with. she's everything to you. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your
to raise the debt ceiling and get on without tanking the u.s. economy, joy. >> yeah, absolutely. i think that is the most important thing. i'm with ryan on this. you always have to provide political cover. the republicans need to be able to run against barack obama as the tax and spend liberal who keeps plunging us into debt. this would allow them to do that and still not blow up the economy. i mean, the only thing here that we know for certain is that they are going to raise the debt limit. they're going to do it. they know it. we know it. it's just a matter of how messy it's going to be before that. the way that you know republicans many my opinion are not serious, where is their list of things? if spending is such a horrible thing and we have a spending problem, not a debt problem, show us your list. what is it you would like to cut? let's see it. the last time they showed it to us, it was the ryan plan to destroy medicare and turn it into a voucher, and then they ran away from that during the presidential campaign when they should have been showing it off. if they're so into cutting
to a lot of the big fights on the fiscal cliff and debt ceiling that conservatives who are in the majority want to cut federal spending and they'll do it however they need to. >> understood. dana bash, thanks so much. >>> practice makes perfect even on the steps of the u.s. capitol. rehearsals have been under way complete with stand-ins for the first family. president obama will take his oath twice. on sunday, january 20th, he'll use first lady michelle obama's family bible. and on monday during the public ceremony, he'll use two other bibles. one of them belonged to president lincoln. it's the same one will be used in 2009 during the inauguration. the second bible belongs to civil rights leader dr. martin luther king jr. king's son joins me now from washington. we're so glad you're here. >> thank you. i'm honored to be here today. >> you wrote an op-ed, even your description of the bible is touching. you say it's faded and some of the pages are torn. tell us how your father, dr. king, used that bible. >> well, number one, we found that when he was pastoring or preparing a sermon, his firs
the debt ceiling or later on over the continuing resolution to? finance to? -- or the continuing resolution to finance the government? guest: i've only been here two years. i truly believe that when i ran and even more so now, we are a nation at risk. every american, regardless of political affiliation. so we have to reduce federal spending. this is the time right now. some of my colleagues were saying let's get through the fiscal cliff and the real fight is the continuing resolution or the real fight is the debt limit. i hear that and it goes on. host: where do you insist on spending cuts? is that the debt ceiling or the continuing resolution? guest: it is that every point. host: all of the above? guest: yes. when the president says he wants a balanced approach, i believe him. i was looking for the simpson- bowles model, fighting for least 2 to 1. i was hoping for 1 to 1. i was disappointed and deeply surprised we did not get that in this fiscal cliff. here i was as a republican, so often introduced on tv shows and news shows, "coming up, a republican who says we need higher revenues." an
in the nation today. it's the only path forward. >> president obama nor congress and the debt ceiling? >> i would hope that it wouldn't come to that. but if it has to, then it must. you know, we can't let extremist put us into default and play chicken with the full faith and credit of the united states of america. that's what they are. people talk about this, and i have been watching the last two days -- when i hear that people say let's just go into the fall, i say this person is from another planet. this person is not from this planet are you the notion that we would do that boggles the mind and good common sense of the vast majority of americans. >> what is your perspective on america's melting pot being better reflected in small towns were rural america? what would civic leaders learn from that experience of small-town mayors. >> well, i think we are enriched. i know that i am. my kids have grown up and i tell people, you know, my kids have been in the homes of persians and iranians and armenians and koreans and filipinos and mexicans and italians and greeks and jews and muslims and we
in 2008 he said the opposite when president bush wanted to raise the debt ceiling. do you think his message about paying the bill resonates with the american public? do you think they delve into the details like you do and understand exactly what's going on? >> it is a compelling message saying we need to pay the bills we've racked up. it misses the point. think about it in terms of a credit card. if you have a son or daughter who exceeds the limits, what do you do? first, probably rip the card. second, say we need to change our spending habits. this is what the president won't do. he said yesterday we have not connected the debt limit with deficit reduction. nothing could be further from the truth. in the past three decades the only thing that has worked in washington to get the spending under control is to tie debt spending to a limit. gramm-rudman. it is a tool that can and should be used. >>gretchen: he seems to think it has nothing to do with spending. what would be your counter to that? >> it has everything to do with spending. again, it's been the most effective tool to be us
these grants made and then there is no follow-up. in light of what is going on in the nation, debt ceiling, in light of what is really going on here in the city and county of san francisco we need to involve the constituents, because the taxpayers that pay it, you may get the money from the state or the federal, it is the taxpayers who pay the taxes and we need to have some accountability and some transparency. i am not saying that this contractor is going to do his job i hope he does his job quarterly or twice a year or for the duration of this contract we get some reports. so that we can read and see what is happening. thank you very much. >> is there any other member in of the public that would like to make comments? seeing none public comment is close. (gavel) this is an action item. >> mr. chair? >> i know there is question about work between the mta and the transportation authority. can you talk about those issues and how they were resolved? >> both agencies have responsibility especially mta which has legislation for originating parking in public policy of the transportatio
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